I've once had this irritation / dried skin area on my nipple and worried that it was Paget's despite the dermatologist reassuring me it was a benign dermatitis. Mine didn't itch either but sometimes it stung when I was sweating or taking a shower which seemed to drive me up the walls thinking it was cracking. I used cream on it for weeks before it eventually went away. Sometimes cream isn't so fast acting when it comes to eczema. I know those horrid pictures of Paget's disease & I'm pretty sure yours looks NOTHING like them.
Keep an eye on it, sure, but I really doubt you have Paget's, which is a very rare form of cancer to begin with. How old are you?