It's a slang term for abbreviated words.
For example, you might have heard the phrase "shonuff". This is slang for the words "sure enough". The words are condensed - sure becomes "sho" while enough becomes "nuff" - and then combined together for the hipster doofus phrase "shonuff".
Shota follows the same logic.
In this case it stands for "show time". Show is abbreviated into "sho" while time becomes "ta".
So next time you are out and feel ready to accomplish something, just say really loud so everyone nearby can hear you "It's shota!" People will be amazed at your hipness and want to follow your every move....especially the FBI.