Danionella priapus is so far only known from the type locality:
Based on information provided by Andrew Rao, the type locality had the following water conditions in January 2006:
The current known distribution of Danionella priapus.
Due to lack of information, the conservation status of D. priapus cannot be assessed.
The species has been exported occasionally for the ornamental fish trade. The extent to which this threatens the survival of D. priapus is currently unknown.