YOUNG DOLPHONLY ONE NOT ARRESTED IN GUN BUST

Young Dolph dodged another bullet by being the only in his crew to walk away from a Hollywood gun bust without handcuffs on his wrists ... TMZ has learned.

Law enforcement sources tell us Dolph was the only one out of 4 guys to be released during a Sunday traffic stop. We're told the 3 guys he was rolling with were all arrested for possession of a firearm. Dolph was not strapped and, therefore, got off scot-free.

We're told Dolph was a passenger in the vehicle, and was released on the spot while his pals got hauled off to jail. Hopefully he grabbed the keys.

The traffic stop went down in Hollywood ... not too far from where Dolph was shot in the ass late last year. Much better outcome this time around. 

Considering he also took fire in North Carolina last year, you'd understand why Dolph's friends might be armed.

We reached out to his camp ... no word back.