1. Adjective. Derived from a Southern Italian dialect(Calabrese)word that means to be in a state of drunkeness.
2. Noun. Can also mean to describe a person in great debt or a person who has no money.
"I went to the bar last night and got all shungut ."
You can use italian word for "all" with the word as follows:
"I went to the bar last night and got "tutto" shungut!"
"Vito doesn't have two nickels to rub together. He's a shungut."