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Hi. My name is***** Thank you for your question. That area that you're feeling could be the xyphoid process. On some dogs it can be more prominent depending on how it formed. Some can have some irregularities there that cause it to protrude more. Some can have a situation called pectus excavatum where it depresses and comes out a little more. IF this area isn't mobile in the skin, it isn't painful, it isn't getting bigger and he's otherwise normal - then it wouldn't seem to be that worrisome. An x-ray of the area / chest could be done to confirm that the bone there is normal in overall appearance and not having any pathology or issues with it. A veterinary exam could be done to have them palpate it to give further confidence as to its origin. This is something that may be done now or at his next vet visit if nothing else is changing.
The big things to watch out for are it increasing in size or becoming painful. My big suspicion is the xyphoid process based on your description.