Hello, @GemPages
It worked! You may check the favicon of the website.
Thank you so much for this!
Take care! 
Topic summary
Issue: The site’s favicon (browser tab icon) stopped appearing despite code in theme.liquid referencing settings.favicon at 32x32.
Findings: The favicon link existed in the HTML, but the image dimensions were incorrect. Guidance clarified that favicon.ico can be 16×16, while PNG favicons should be at least 32×32 (96×96 recommended). The site’s image was 16×32, which is invalid.
Actions taken: Support requested the store URL to inspect. A sample 256×256 PNG favicon was provided. Step-by-step instructions advised placing the favicon tag immediately after the tag in theme.liquid (Online Store → Theme → Edit code).
Outcome: After moving the code to the correct position, the original poster confirmed the favicon now displays on the website.
Attachments: Screenshots showed where to paste the code; a sample favicon image was shared.
Current status: Resolved for the original poster. A new follow-up notes Bing still doesn’t show the favicon for another user; no solution for that specific Bing display issue yet, so that remains open.