We consider traveling waves with singularities in a damped hyperbolic MEMS type equation in the presence of negative powers nonlinearity. We investigate how the existence of traveling waves, their shapes, and asymptotic behavior change with the presence or absence of an inertial term. These are studied by applying the framework that combines Poincare compactification, classical dynamical systems theory, and geometric methods for the desingularization of vector fields. We report that the presence of this term causes the shapes to change significantly for sufficiently large wave speeds.