Meek Mill Splurges $200K on Dreamchasers Chain After Roc Nation Departure

Meek Mill is dropping big racks to celebrate his label, copping a dreamcatcher-style Dreamchasers chain -- it's an interestingly timed purchase, and TMZ Hip Hop has all the diamond details.

The piece, designed after a Native American dream catcher said to block out bad dreams, makes the most outta the dual-meaning "DC" emblem ... and comes with a hefty $200,000 price tag!!!

Easy to see why ... it's packed with 100 carats of various diamonds -- round stones, solitaire emeralds and baguettes on the feather -- all sparkling with VVs clarity.

Don The Jeweler of Status Jewelers tells TMZ he and Meek met a little while back at a Roc Nation event where both Young Thug and Gunna vouched on the spot for Don's jewels. Thug specifically called Don "the G.O.A.T." when it comes to custom pieces for rappers.

From there, Meek and the Atlanta-based jeweler sparked a connection and spent the next year outlining the intricate details of the Dreamchasers piece ... which was hand-delivered during Rolling Loud Miami last month.

Don also had the back pendant engraved with the phrase "Dreamchasers catch dreams" ... which signifies the moves Meek is trying to accomplish going forward.

In July, Meek took the reins of his career, vowing to take his DC label to new heights after he departed from Jay-Z's Roc Nation management, his home since 2012.