"Solo Respira" is a pep talk for a friend who just got her heart broken, and Gino Mella sets it to a reggaeton beat instead of a sad ballad.
The hook is pure comfort: "Mi chanchita, no llores" (my little piggy, don't cry). Calling someone "chanchita" sounds like an insult if you translate it word for word, but in Chilean Spanish it is a cute, affectionate nickname. Then comes the advice: "Usted merece que la traten como reina" (you deserve to be treated like a queen) and "Solo respira, todo va a estar bien" (just breathe, everything is going to be fine). Notice he uses the formal usted with someone he calls his little piggy. That mix of formal and tender is playful, and very common in Chilean love songs.
The verses get funnier. When people ask about the ex, she should just say "Pasapalabra" (pass), the word contestants shout on a TV quiz show of that name when they skip a question. She deserves "buffet y no hacer la fila larga" (a buffet and not waiting in a long line). And the ex broke the heart of "una persona que no rompe un plato" (someone who wouldn't break a plate), a Spanish idiom for someone sweet and harmless.
It is a breakup song with zero bitterness, which is rare. The plan is simple: "Vamos a la disco" (let's go to the club), open some honey whiskey, and turn the page.