Meek Mill Dropped $500k for His New Chain

Meek Mill doesn't seem too concerned Drake's still dragging his name through the mud ... he's too busy dropping half a mil on a new iced-out chain.

As we reported ... Meek dropped $380k last week for one of the first Bentley Bentaygas to hit U.S. soil, but it's chump change compared to the $540k he just spent on his new neck bling.

The chain is covered in 250 karats and was made by Shyne Jewelers. It's adorned with the letters DC -- a bedazzled shout-out to his Dream Chasers label.

We're told Meek waited months for the piece and finally picked it up in Philly.

So, technically, Drake's not the only one dropping weight in Meek's hometown.