No, shrinky is not in the scrabble dictionary.

Is Shrinking a verb or adjective?

verb (used without object), shrank [shrangk] or, often, shrunk [shruhngk]; shrunk or shrunk·en [shruhng-kuhn]; shrink·ing. to draw back, as in retreat or avoidance: to shrink from danger; to shrink from contact.

Is shrink an action verb?

Verb The sweater shrank when it was washed. ... Hot water shrank the sweater. The treatment should shrink the tumor.