Capsulia'o is a colloquial term derived from "cápsula" (capsule), and in this context, it means to be "capsuled up" or under the influence of drugs, specifically referring to being high.
It's an interesting and less common slang term that paints a vivid picture of being enclosed or enveloped by the effects of a substance. The line "humo, andamos capsulia'o" directly links the smoke to this state of being high, making it a unique and memorable word from the song.
"Ja Morant" is Cruz Cafuné looking back at how far he's come, waking up to a new day and a new hater every time. He talks about the fast cars, the sold-out tour and the money, but he's honest that the version of himself who had nothing "shitty clothes, no cash" is still close underneath the swagger.
The chorus nods to NBA star Ja Morant's signature celebration, the griddy, as a stand-in for winning and getting paid on his own terms. In between the boasts, he slows down to admit some of last year's choices still cost him sleep, even though he'd make them again.
It's a song about carrying success and old wounds at the same time, staying loyal to the people who were there before any of it, and not forgetting why he started rapping in the first place.