 The song became a number-one hit on the "Billboard" Hot 100, Seger's only such top mark singles-wise, as well as the Album Rock Tracks chart, where it became his second number-one hit, spending four weeks at the top.In Canada, it went to number one as well, topping the "RPM 100" national singles chart on August 1 of the same year.In 1988, "Shakedown" was nominated for both the Academy Award for Best Original Song and Golden Globe Award for Best Original Song, but it lost both awards to "Dirty Dancing"s "(I've Had) The Time of My Life".