In a large skillet, heat the olive oil over medium heat. Add the shredded chicken to the skillet.
Sprinkle the chili powder, cumin, garlic powder, onion powder, salt, and black pepper over the chicken. Stir well to coat the chicken evenly with the spices.
Cook the chicken mixture for about 5-7 minutes, stirring occasionally, until heated through.
While the chicken is cooking, warm the corn tortillas in a separate skillet over medium heat for about 30 seconds on each side, or until pliable.
To assemble the tacos, place a generous portion of the seasoned chicken on each tortilla. Top with chopped cilantro and diced onions.
Serve the tacos with lime wedges and your choice of salsa or hot sauce on the side.