The title is gone but City are still trying to retain the FA Cup - as they did the Carabao Cup - and going for the Champions League too. It could still end up being an incredible season for them if they land all three, Shearer added.
"This is a big game even without any silverware riding on it. Liverpool have already taken City's title, and now they want their records too - most points, biggest title-winning margin and most wins," Shearer wrote in his column on BBC.
"That is what Reds boss Jurgen Klopp will be demanding. His side have been the best in the country by a million miles this season, and they will want to show that yet again, against their nearest rivals."
Liverpool recently ended their 30-year long wait for a top-flight title after they beat Crystal Palace 4-0 and Manchester City lost to Chelsea 1-2 away from home. This is also Liverpool's first Premier League title since its inception in 1992.
"The title is gone but City are still trying to retain the FA Cup - as they did the Carabao Cup - and going for the Champions League too. It could still end up being an incredible season for them if they land all three," Shearer added.
Klopp on Wednesday said the Reds will not rest on their laurels and continue to attack teams and not just defend their crown.
"As long as we stay humble and greedy, we have a good chance to remain a really uncomfortable opponent," Klopp said as quoted by Sky Sports.
"When you are a really uncomfortable opponent, you have a chance to win. And when you have a chance to win, then sometimes you have to win.
"There are a lot of challenges, life is constantly a challenge, and our challenge is now being champions and playing seven games against teams that will fight for everything.
"We can show that we don't run because we have to, we run because we want to.
"Next season, you can write stories about us being the defending champions or whatever, but that is why I say - we will not defend anything, we will attack it," he added.