I think I have this...but it isn't really the shaft, but halfway up my penis, between the head and the shaft. There are other hair follicles around it, so I think that's what it is. I can feel like...something inside, moving around, if I touch it, so I dunno if that's the ingrown hair or scar tissue or what. Any advice?
A decade or so I had a pubic hair follicle become infected and become like a boil. I squeezed out the pus and it eventully dried up, but it left scar tissue underneath the skin, which is a little bump now. This is probably what you have, but go to a doctor anyway to check it out