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Shrunken lakes are still extant natural lakes that have permanently shrunk considerably in size over time, even to the point where they divide into two or more smaller lakes. These include not only lakes that have shrunk in recorded history, but also are known to have shrunk in prehistory.

If a lake has permanently vanished, it is a former lake. If a lake periodically refills, such as Lake Eyre, it is neither a shrunken lake—because shrunken lakes do not return to their pre-shrinkage levels—nor a former lake—because the lake water returns.