I've just gone through the Instagram Shoutout articles on the site and I have a few questions:
1) How often should you buy shoutouts?
2) Should you buy shoutouts from many influencers at the same time?
3) How does the bio link thing work?
1 - well if you have some budget then at least 2-3x a week
2 - the best way is still to contact those influencers through DM or email if they have their email on their IG accounts.
3 - live link/clickable link. links on instagram posts are not hyperlinks/clickable links.