What Is The Bright Red Dot On My Glans?

I am a 46 year old male. I have had a small red dot on my glans for several weeks. No pain, no inflammation, and it's not even raised. It once developed a pinhole and I figured it might be some infection so I started to clean it daily with hydrogen peroxide. It started to fade until it was almost imperceptible. Then literally overnight it turned bright red and became larger and irregular in shape. Still no pain nor a raised surface.