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The condition of one's genitalia after extended time in a cold place, usually Alaska. Unlike shrinkage, permashrink will not go away until one has moved to a place of normal climate.
Guy 1: Dude, I went up to Alaska last month, it was sweet!
Guy 2: Oh I'm sorry man, you must have had some crazy permashrink.
Guy 1: Yeah...I almost forgot I wasn't usually the size of a newborn baby.
by Dukey duke August 25, 2008
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