Mr Habiyakare, 24, who performed under the name Lyr1cure7, was found dead at his Essex Street, Sunshine North, home on August 24 after a group of armed intruders stormed the property.
Police say the rapper was at home with friends at the time and investigators believe he was specifically targeted.
No one else was injured during the attack.
They think that another altercation at the same house three days earlier might be linked to his death.
Detective Inspector Tim Day said on Monday police received a "significant" amount of information from the public in relation to the killing over the past week.
He believes police are on the cusp of finding and arresting the group that "targeted and executed Chris".
"Investigators are now exploring the possibility that the actual offending group was aware of the earlier altercation with Chris three days before his death and took advantage of this knowledge to target Chris," Det Insp Day said.
"In other words to lay a smokescreen for their actual offending."
A firearm, believed to have been used in the murder, was found during a search of a person in recent weeks and will undergo forensic testing, Det Insp Day said.
He said it was now a matter of time before police were able to crack the case and called on those involved to come forward.
"Now is the time for those people to come forward and tell their side of the story – get in first as this may be the only opportunity you get," he told reporters.
Det Insp previously said "significant" amounts of cash and drugs were found at the property, with a drug debt being looked at as a motive for the targeted killing.
Police on Monday released CCTV footage of a small hatchback driving along the street in the hope they can identify the driver.
Images of two men believed to have been involved were also re-released on Monday.
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