Weird red spot below ribcage

Hello,

I've had this weird red spot appear just below my ribcage, it's not very big, pretty much flat (definitely not a bump, there might actually be a hint of a "hole") and it's completely painless, not itchy or anything.

However, it started as a much larger red bump that I thought was an insect bite. There was definitely a bump there, and it was painful when touched. It left this little bump behind, which has been there for about 3-4 weeks without much change. I'm pretty sure it's not growing, it might even be fading a little bit.

Is this something I should be worried about?

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Probably an ingrown hair, nothing I would concern myself with. They take time to heal. Good luck.