I read about wav file format and found too many projects of steganography based on it but didn't found that much projects based on mp3 though it is found more frequently on web than wav.
The wav format is uncompressed audio with no formatting headers. You can change a few bits in this format without significantly affecting the audio; you will not break the file format and a listener will not be able to tell the difference between the original file and the modified one.
The mp3 format is compressed audio. If you change bits in mp3, you run risks: