Melancolía is a beautiful Spanish word for 'melancholy,' a feeling of deep, pensive sadness. It's a more poetic and profound way to describe sadness than the more common word tristeza.
In this song, Feid expresses his heartbreak and longing, singing, "Ya no quiero esta melancolía" (I don't want this melancholy anymore). This word perfectly captures the sorrowful and reflective mood of the track, describing the lingering pain after a relationship ends.
Feid is going through it in this one! He's been left by someone he was crazy about, and he's taking it hard. He feels like a total fool because he saw a message where she said, "me iba a amar" [she was going to love me], but then he saw her with another person with his own eyes. The shock and betrayal hit him so hard he says, "Con ella se fue hasta mi salud mental" [My mental health left with her]. It's a super blunt and honest look at feeling completely blindsided by a breakup.
Six months have passed, and things haven't gotten any better. He's stuck at home, confessing, "yo aquí llorando por vos" [me here crying for you]. He's trying to find her in "vicios" and "licor" [vices and liquor], but nothing is working. He feels like she moved on instantly—"Pa' olvidarte de mí fuiste veloz" [You were fast to forget me]—and left without even a goodbye. Now he's just begging her to come back and end his "sufrimiento" [suffering], convinced that she must be feeling just as miserable as he is.