My suggestion would be to follow this [[Electronics Water Damage|this guide]] Personally I stay away from Rice (other than cooking) since uncooked rice will swell once it absorbs liquids. This could lead to a mess in dock connectors headphone jacks and all other tight areas. Once the device is opened and you follow the guide, it would be an unnecessary step. After you have accomplished that, change the battery (follow the above mentioned guide) and reevaluate your iPod. Good Luck

Put it in dry rice disassembled

Installing iPod Shuffle 2nd Generation Logic Board Assembly

Chances are the battery may be shorted and if you powered it on, you may have lost any chance to fix it

After you put it in dry rice and you confirm the battery may as well be shorted, put it in IPA to clean off any and all gook on the motherboard