In a mixing bowl, combine the olive oil, chili powder, cumin, garlic powder, salt, and pepper. Add the shrimp and toss until they are well coated in the spice mixture.
Heat a large skillet over medium-high heat. Once hot, add the shrimp and cook for about 2-3 minutes on each side, or until they turn pink and opaque. Remove from heat.
In a separate bowl, mix the sliced red cabbage, grated carrots, cilantro, lime juice, and a pinch of salt. Toss well to combine and set aside.
In another small bowl, whisk together the sour cream, mayonnaise, and hot sauce (if using) until smooth. Set aside.
Warm the tortillas in a tortilla warmer or wrap them in a clean kitchen towel and microwave for about 30 seconds.
To assemble the tacos, place a few shrimp on each tortilla, top with the cabbage and carrot slaw, and drizzle with the sauce.
Serve immediately and enjoy!