How do I fix a soaked iPod touch?

i would suggest

Do not try to switch on the ipod for at-least 2 days or even try to charge it . . . (you could damage the ipod more)

As the ipod is pretty much sealed so there is very less space for air to go in and dry it.

Also keep the ipod upside Down as if the liquid is still in there somewhere it will not penetrate more on logic board.

you can try putting the ipod in a place where it can dry a little fast like in a rice bag (it absorbs moisture fast).

and if you are comfortable opening the ipod up, you can try taking the display off the ipod by following the link below :-

iPod Touch 5th Generation Display Assembly Replacement

That will give ipod more room to get in contact with air and will dry up soon.

Hope it helps :)

Well I gave my friend my iPod (5th gen) and she accidentally dropped it in the sink, she hadn't realized it had fallen in and when she bought it out it still worked, then after about 30 minutes it stopped working and she tried blow drying it, even the bag of rice thing but it still didn't work, but after 24 hours of leaving the iPod out it started working.