1. To quickly and thoroughly fail. The new smartphone was meant to revolutionize the industry, but it sank without trace after its commercial release. After his initial breakout success, the director's follow-up film sank without a trace.

2. To be forgotten about by the population as a whole, especially after being very popular. The digital pets fad took the world by storm in the late 1990s, but sank without trace by the end of the millennium.