So is shrimp good for you or bad for you? Shrimp is low in fat, but high in cholesterol. There is much confusion about the fat and cholesterol amounts in shrimp. Shrimp is very low in total fat, tough it is quite high in cholesterol content. There are many people who will not eat shrimp because of its high cholesterol content. Yet, based on studies about shrimp and cholesterol levels, not eating shrimp because of this is not necessary. read more..