To masturbate furiously over the image of an ex-girlfriend. Typically ends with a bout of self-loathing and/or tears.
"Tom was feeling lonely so he logged on to facebook and treated himself to a wank of shame over a chick who had dumped him 10 years ago and was now happily married. And then he had a cry"
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When your phone dies whilst masturbating.
My phone died mid-jack so I had to perform the Wank of Shame.
The feeling which comes as a result of mastebating in a way that, at the time seemed like an awesome idea.
After quietly rubbing one out in his mothers room as she slept, Dave was overcome with Crippling wank shame.