Verrecke is a strong and somewhat vulgar term for "to perish" or "to die," often used for animals or in a derogatory sense for humans. It's much more intense than the standard sterben.
In the context of the song, the artist uses it to describe the intense and destructive feeling of drug use: "Codein im Magen, guck, ich fühle, wie ich verrecke" (Codeine in my stomach, look, I feel like I'm perishing/dying). This word choice vividly conveys the self-destructive nature and the physical toll of his addiction, making it a very impactful and memorable word.
This song sits inside the contrast between addiction and success. The hook keeps repeating that "Xanax is doing damage" while Thilo (the other half of the duo) keeps performing anyway - two things happening at once, neither one cancelling the other out.
The verses fill in the details: designer clothes, cash, features worth real money, a rap career that took off. But the same verses admit the addiction is bigger than the success ("Sucht ist grosser als Erfolg") and that there is no getting out of it, even after leaving behind selling drugs on the street ("nie wieder Packs verkaufen").
It is less a warning than a snapshot: fame and money didn't fix the underlying problem, they just gave it a nicer backdrop.