Memphis Police are no longer pursuing the suspect they ID'ed on video in the Sauce Walka shooting that also killed rapper Sayso P ... because the guy is no longer alive!!!

Monday morning, Memphis Police announced 21-year-old Jayden Dandridge had been found deceased in Houston, Texas. No further details were released.

We obtained footage last week of Dandridge inside the stolen 2021 Dodge Charger 392 Scat Pack that was used in the murder.

The warrant for Dandridge, which was issued last Wednesday, is no longer active.

Investigators revealed they are now looking for 22-year-old Kevin Brown in the area and charged him similarly to Dandridge -- first-degree murder, attempted first-degree murder, employment of a firearm during the commission of a dangerous felony, and property theft.

Sauce Walka has been on the mend since the shooting but has been mourning his slain friend online.

Police are offering a $6K reward for any info leading up to Brown's arrest via their hotline 901-528-CASH.