The Collaborative International Dictionary of English v.0.48:

Shrink \Shrink\, v. i. [imp. Shrankor Shrunkp. p. Shrunk
   or Shrunken, but the latter is now seldom used except as a
   participial adjective; p. pr. & vb. n. Shrinking.] [OE.
   shrinken, schrinken, AS. scrincan; akin to OD. schrincken,
   and probably to Sw. skrynka a wrinkle, skrynkla to wrinkle,
   to rumple, and E. shrimp, n. & v., scrimp. CF. Shrimp.]
   1. To wrinkle, bend, or curl; to shrivel; hence, to contract
      into a less extent or compass; to gather together; to
      become compacted.
      [1913 Webster]

            And on a broken reed he still did stay
            His feeble steps, which shrunk when hard thereon he
            lay.                                  --Spenser.
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            I have not found that water, by mixture of ashes,
            will shrink or draw into less room.   --Bacon.
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            Against this fire do I shrink up.     --Shak.
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            And shrink like parchment in consuming fire.
                                                  --Dryden.
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            All the boards did shrink.            --Coleridge.
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   2. To withdraw or retire, as from danger; to decline action
      from fear; to recoil, as in fear, horror, or distress.
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            What happier natures shrink at with affright,
            The hard inhabitant contends is right. --Pope.
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            They assisted us against the Thebans when you shrank
            from the task.                        --Jowett
                                                  (Thucyd.)
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   3. To express fear, horror, or pain by contracting the body,
      or part of it; to shudder; to quake. [R.] --Shak.
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The Collaborative International Dictionary of English v.0.48:

Shrunken \Shrunk"en\,
   p. p. & a. from Shrink.
   [1913 Webster]

WordNet (r) 3.0 (2006):

shrunken
    adj 1: lean and wrinkled by shrinkage as from age or illness;
           "the old woman's shriveled skin"; "he looked shriveled
           and ill"; "a shrunken old man"; "a lanky scarecrow of a
           man with withered face and lantern jaws"-W.F.Starkie; "he
           did well despite his withered arm"; "a wizened little man
           with frizzy grey hair" [syn: shriveled, shrivelled,
           shrunken, withered, wizen, wizened]
    2: reduced in efficacy or vitality or intensity; "our shriveled
       receipts during the storm"; "as the project wore on she found
       her enthusiasm shriveled"; "the dollar's shrunken buying
       power" [syn: shriveled, shrivelled, shrunken]