This is a breakup song where the singer bows out gracefully, and it hurts every step of the way. He opens by admitting she has someone new and still says "te deseo lo mejor" (I wish you the best). Then comes the generous, slightly heartbreaking logic: "Si en mí no encontraste felicidad, tal vez alguien más te la dará" (If you didn't find happiness in me, maybe someone else will give it to you).
The chorus is the image everyone remembers: the love she gave him was like a flower that "se marchitó" (wilted). His answer is "Me marcho hoy, yo sé perder" (I'm leaving today, I know how to lose), which is a great phrase to learn: saber perder means being a good loser. The "Ah-ah-ay, cómo me duele" (oh, how it hurts) is pure cumbia crying.
This version is live, so you also get crowd talk. "Arriba, Guadalajara" is a shout to the audience in the Mexican city, and "Saludcita, viejonas, viejones" is a friendly toast: saludcita is a cute form of salud (cheers), and viejones/viejonas is Mexican slang for good-looking guys and girls. "Échale, Ray" just tells a bandmate to go for it.