Guagua is a fascinating word because it's a regionalism primarily used in the Caribbean, especially in the Dominican Republic and Puerto Rico, to mean "bus." It's not a common word across all Spanish-speaking countries, making it unique and interesting for learners.
In the lyrics, "Te quería monta', pero se te fue la guagua" translates to "I wanted to get you on, but you missed the bus." This phrase is a colloquial way of saying someone missed an opportunity or was too late, adding a layer of cultural insight to the song.
El Alfa and Lápiz Conciente spend the first half of this one shutting down a rumor. People had them beefing: “Unos peleándose, y el otro matándose” [Some fighting, and the other one killing each other] is how the story was going around. The hook answers it straight: “To' el mundo pensaba que El Lapiz y yo teníamos un lío” [Everyone thought El Lapiz and I had a problem], then “Pero ya en la calle está to' frío” [but now on the street everything's cool]. That's the whole title in one line, and it's Dominican slang, not weather: “frío” here means calm, no drama, squashed.
Once that's settled the song turns into a flex. El Alfa name-drops the brands: “Llegó el sicario vestido de Loro Piana” [The hitman showed up dressed in Loro Piana]. Then it opens up into a full roll call of everyone who made the track, the producer (“Chael Produciendo” [Chael producing]) down to the DJ (“Dj Flaco Loko”). It plays less like a peace treaty and more like two guys using the "we're not fighting" story as an excuse to shout out their whole crew.