Peda is a very common slang word in Mexico that you won't find in a textbook. It can mean a 'party' (specifically one with a lot of drinking) or it can refer to the state of 'drunkenness' itself.
The song's title, "EN LA PEDA", and its opening line, "Mis compas en la peda", immediately sets the scene. It translates to 'At the Party' or 'While Drinking', telling us the singer is with his friends, trying to drink to forget a lost love. Learning slang like peda is key to understanding the real-world context and emotion in popular music.
Junior H is deep in his feelings on this track, and he's not handling it well. The song's title, "EN LA PEDA," means "At the Party" or, more accurately, "While Drunk," and that's exactly where we find him. His friends don't think he can get over his ex, and he admits, "Creo que les creo" [I think I believe them]. He's trying to drown his sorrows, asking the waiter, "traiga otra botella / Pa' ver si en esta ya me olvido de ella" [bring another bottle / to see if with this one I can forget her].
He blames his ex for turning him into the guy he is now: "Antes de ti yo sí era buen muchacho" [Before you, I was a good guy], he claims. Now, his heart is shattered and he's treating other women poorly because he can't move on. It's a classic heartbreak song, but with that blunt Corrido Tumbado edge. Even when he's drunk and trying to act tough, he admits that when he wants to reach for the moon, "sólo hay una y bien sabes que es tuya, bebé" [there's only one and you know well that it's yours, baby].