Loquera is a colloquial and expressive term for 'craziness' or 'madness,' stemming from the common word loco (crazy).
In the song, the artist sings, "Hoy vivo entre mi loquera" (Today I live among my craziness), painting a vivid picture of his chaotic state of mind after a breakup. It's a powerful word that captures the wild emotions and reckless behavior that can follow heartbreak.
This song is all about the messy, contradictory feelings after a big breakup. The singer is trying so hard to convince himself he's over it. He wakes up among bottles and immediately starts talking tough, saying he'll find "Alguien mejor que tú" [Someone better than you] and live a life of luxury with breakfast in Cancún and dates in Italy. He's trying to party his way through the pain, boasting about wild weekends and taking off a new girl's "Dolce de Gabbana" in a fancy hotel suite.
But it's all a front. For all his talk, he admits he wasn't happy and that he misses his ex. He asks her, "¿pa' qué es que me llamas? Si aquí ya no hay llama" [Why are you calling me? If there's no flame here anymore]. He's torn between wanting her to stay away so he can heal and being unable to forget their cozy, simple moments together, like weekends of "pelis, de sushi, de besos, de vino" [movies, sushi, kisses, wine]. The whole song is this push and pull, ending with the simple, sad admission: "Pero yo no te olvido" [But I don't forget you].