I have a peanut sized lump inside the bottom of
No you should not
You should not be worried. The sudden appearance argues against something serious. It would be helpful if you could upload a photo of it. It is probably a sebaceous cyst.
Looking forward to hearing from you.
Penile cancer is very unlikely
Hi again Cmurchie123,
It is not stupid to consider, but I hope that it may comfort you, that it is extremely unlikely to be penile cancer, as it usually presents as a wound, a scab, a polyp-like mass or an inflamed area typically around the head of the penis. What you have is probably a sebaceous cyst or a lymph node, as I mentioned. I suggest you simply observe it for the next few weeks, and if it gets worse you see your own GP or a urologist.
Hope this helps.