what context is"it's giving" used in? I know the rest.
The obvious answer here is social media. So, what was regional slang, possibly made multi regional by rap songs, now starts (or is popularized) with people who have large followings on social media, and then repeated by all of them, and on it goes.
In previous eras it was more natural, you heard your boys saying it, an it happened more naturally, rather than direct imitation, like you watch a video and then start using the phrase.
I do use some slang, but hardly any from "new generation", I truthfully would rather not lapse into my elementary year days and say stuff like "dog", when I lose my temper, but when I do use those kinds of words, that's coming from an authentic place, if I go and watch some video and then start saying '_____" tomorrow, that's a little forced.
The worst is very white, very "yuppie", using like deep black/trap/jail slang.