Pat the shrimp very dry with paper towels.
Set up three shallow dishes: flour mixed with ½ teaspoon salt, the pepper, garlic powder, and ¼ teaspoon paprika in the first; beaten eggs in the second; panko mixed with the remaining ½ teaspoon salt and ¼ teaspoon paprika in the third.
Dredge each shrimp in the flour and shake off the excess, dip in egg, then press firmly into the panko to coat. Set on a plate.
Preheat the air fryer to 390°F for 3 minutes.
Arrange the shrimp in a single layer in the basket, working in batches as needed. Spray the tops generously with olive oil spray, covering any dry spots.
Air fry 8–10 minutes, flipping halfway and spraying the second side, until deep golden and the shrimp are opaque and curled into a loose "C" shape.
Serve immediately with lemon wedges and dipping sauce.