hanging is causing a thin ribbed ring around the base of the shaft...normal?

i'v been hanging light for around 2 weeks now (~5lbs). sometimes it feels light, and sometimes it feels like the pressure is going to rip my dick in 2, but it's cool, i always warm up before hand and i don't rush into heavy weights. i know i'm such a rookie for now.

the thing is right near the base of the penis, there has appeared a thin (around 1mm wide) line\ring all the way around the shaft. it's noticble because its lighter in colour than my normal skin colour there, and is more noticble when erect. it's not worrying me, i mean you can only see it if you pay very close attention...but why is it happenning? i'm sure it has something to do with hanging...is it a good thing?
 
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