Cobijó comes from the verb cobijar, which means to shelter, protect, or cover. It's a beautiful and somewhat poetic word that evokes a sense of warmth and security.
In the context of the song, Fito Páez sings about "la vida de locos que creíste alguna vez te cobijó" (the crazy life you once believed sheltered you). This use highlights a past sense of comfort or belonging that has now faded, adding a layer of nostalgia and loss to the lyrics.
Fito Páez sings about a love that has slipped away and taken a piece of youth along with it. The sun rises, but the person he loved is no longer there, and the small, tender symbols of that time together — a teddy bear, a Pinocchio figure — are left behind like relics of a childhood that has closed.
The song moves between tenderness and numbness. He describes drifting apart in time and vanishing "like smoke in the wind," repeating that he no longer dies, feels, or thinks — a kind of emotional shutdown after heartbreak. Images of danger and abandonment (a wolf howling at the moon, nobody coming for him, nothing left outside) build a picture of someone standing alone in the wreckage of a relationship.
Even so, the song ends on devotion rather than despair: "para siempre amor," forever love. It's a bittersweet farewell to a chapter of youth, sung with the grand, theatrical melancholy Páez is known for.