Here are some possible Spanish translations depending on the context:
If it means "What's hot/trending?":
* ¿Qué está de moda? (formal)
* ¿Qué está pegando? (informal)
* ¿Qué está sonando? (referring to music)
If it means "What's happening?":
* ¿Qué pasa? (informal)
* ¿Qué está pasando? (formal)
If it's a specific term in a certain context:
* You need to provide more context to get an accurate translation. For example, if it's a slang term or a phrase used in a specific subculture.
Please provide more context so I can give you a more accurate translation!