Bobby Shmurda: Let Me Out!!! I'm Not As Rich As You Think!!!

Bobby Shmurda has been striking out in court ... and the rapper and his lawyer, Alex Spiro, think it's because his bail is set way too high in the first place at $2 million.

A judge denied Shmurda's request to lower his bail on Tuesday, a mere month and a half after his family first attempted unsuccessfully to bail him out using their property as collateral.

Spiro told the judge the bail was set so high because Shmurda's net worth had been estimated at $20 million originally ... a gross exaggeration. He says the truth is, the number is closer to $427k and bail should be set closer to the $50-100k range.

Shmurda's been in the slammer since December 2014 for conspiracy to commit murder.

Spiro says they won't stop trying to get the $2 mill lowered ... even if they have to make the request 55 times.