Alluding to Miley's portrayal of Ashley O in Charlie Brooker's award-winning dystopian TV show, Trinidadian-born Nicki added: "Now you coming out with pink wigs, all you b*tches wanna be Nicki."
Queens-raised Nicki - real name Onika Tanya Maraj - has worn a powder pink hair piece on-and-off since bursting onto the scene with her first studio album Pink Friday in 2010.
Most recently, the Anaconda songstress stepped out in a candyfloss hued wig for the 2019 Met Gala in New York City.
Nicki's comments come after Miley premiered three new songs during her performance at BBC Radio One's Big Weekend late last month, E! News reports.
One track titled Cattitude contains the lyrics "I love you, Nicki, but I listen to Cardi", an apparent show of support for Bronx-born rapper Cardi B who is embroiled in a long running feud with Nicki.
But Miley cleared up confusion about the words in an interview with Roman Kemp on Capital Breakfast, calling Miley and Nicki "queens" who "both get a crown".
"I think what they do is so different. That's why they both get a crown. They don't have to share...they're both queens," she said.