What does burning in ankle mean?

Burning usually: Means nerve. It can be a local thing, like tarsal tunnel syndrome where a nerve is getting pressure from a ligament near your ankle, or from a nerve irritation higher up: leg or lower back. An emg/ncv is usually ordered to see where the problem lies. But if you start smelling smoke with that burning... Run! good luck. Hope this helps.

Nerve symptoms: This could be due to a neuropathy caused by diabetes, irregular blood sugar levels, nerve impingements, ill-fitted shoes, etc.