It's a small red bump on the shaft of my penis. Bottom left side. I'm 14 and a virgin but I masturbate a lot. What could it be?

It may be a ingrown hair, if that's what it is a hair will be in the center of it, all you have to do is pull the hair out, you can use a heat compress before if that will help. Sometimes it's the start of herpes, sometimes it's a pimple, but most the time it's a hair. If its small, if it large then a developing cyst possibly.