By the AM-GM inequality,
\[\frac{a}{2b} + \frac{b}{4c} + \frac{c}{8a} \ge 3 \sqrt[3]{\frac{a}{2b} \cdot \frac{b}{4c} \cdot \frac{c}{8a}} = 3 \sqrt[3]{\frac{1}{64}} = \frac{3}{4},\]with equality when $a = 1$, $b = 2$, and $c = 4$.
Therefore, the smallest value is $\boxed{\frac{3}{4}}$.The answer is: \frac{3}{4}
Below is a math problem. Provide a detailed, step-by-step solution.

### Problem:
What is the smallest value that the sum $\frac{a}{2b} + \frac{b}{4c} + \frac{c}{8a}$ can have, given that $a$, $b$, and $c$ are positive real numbers?

### Answer:
