I think it may be the start of a spike but I'm not sure as the pic is not very clear.
The first time I saw one of mine spike it seemed to start doing something in the center like that then I was not sure it was doing anything for ages, it just remained a nubbin, then it got going and grew in to a spike.
Dendrobiums are not like Phals with terminal spikes, it's quite normal for Dens to have a spike from the center of the crown. Dens tend to terminate each crown an an annual basis and they will start new canes.
Dendrobium are call Sympodial orchids which means that they have lots of growth points which terminate when each is fully grown and new ones start. Phals are Monopodial which means only one crown which just keeps going, that's why a terminal spike on a Phal indicates that crown will stop growing and you need to hope it will develop a new basel keiki to keep going.
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