Described herein are methods, systems and machine-readable media for simulating a FIFO cache using a Bloom filter ring, which includes a plurality of Bloom filters arranged in a circular log. New elements are registered in the Bloom filter at the head of the circular log. When the Bloom filter at the head of the circular log is filled to its capacity, membership information associated with old elements in the Bloom filter at the tail of the circular log is evicted (simulating FIFO cache behavior), and the head and tail of the log are advanced. The Bloom filter ring is used to determine cache statistics (e.g., cache hit, cache miss) of a FIFO cache of various sizes. In response to simulation output specifying cache statistics for FIFO cache of various sizes, a FIFO cache is optimally sized.