Questions in The Urology Forum are being answered by doctors from Henry Ford Health System , consistently ranked one of the best hospitals in America. Penile cancer is rare in males below age 25, and the incidence increases with each decade.
Circumcision greatly reduces the incidence of penile cancer.
Considering your age and your reported lack of risk factors, I doubt highly that your bump is penile cancer. This is most likely a benign condition considering that it has not caused any pain or grown in size. It is very difficult to give you any advice based on your limited description without performing a full history and physical. However, your lesion sounds like it may be a sebaceous or inclusion cyst. These occur wherever sebaceous glands are present and are commonly seen on the scrotum.