In a large bowl, combine the shrimp with onion powder, garlic powder, cayenne pepper, and salt. Mix well and let sit for 5 minutes.

Heat 1 tablespoon of olive oil in a large skillet over medium-high heat. Add the shrimp and cook for about 1 minute on each side until pink and opaque. Remove and set aside.

Reduce heat to medium, add remaining olive oil, onion, and serrano pepper. Sauté for 3-4 minutes until onion is translucent.

Stir in minced garlic and cook for 1 minute. Add chopped tomatoes, mix, cover, and cook for 5 minutes until sauce forms.

Return shrimp to the skillet, stir into the sauce, cover, and simmer for 3-4 minutes until heated through.

Serve warm with tortillas or rice to soak up the sauce.