Important questions are:What is the size/ location/ margin (regular or irrgeulr)/ colour of the mole. All mole have potential for cancer so please consult a dcotor and if he/ she suggests, get it removed. Shrinkage in size means it mut be a non-cancerous mole but only sure shot way is removal and biopsy.
Best wishes
Dr Tewari
All moles (irrespective of color, size etc) should be evaluated by a doctor e.g. a dermatologist to make sure they are not possibly cancerous
Although the acute infection appears to have subsided you should still get it checked out