The performer recently signed a record deal with Meek Mill's Dream Chasers label, The Hollywood Reporter said.
A suspect has been identified, but no other details, including a possible motive, have been released to the media, the entertainment industry trade newspaper said.
"The call I got this morning is un real RIP 2 my Lil n---- lilsnupe," his manager, DJ Smallz, said via Twitter Thursday.
"I aint gone lie i cant stop crying! I Can't Believe My Youngin Gone! RIP lil bro @LilSnupe," Dream Chasers' Louie V Gutta tweeted.