Dendrobium moniliforme seedling - keiki or spike?

[Salixx]

I got this little guy back in the beginning of summer from the Troy Meyers Conservancy. It wasn't really planned, Troy included it since another seedling I ordered was not doing well.

I'm not sure exactly when, but it started forming this little balls near the top of two of the canes. Although the plant seems like it might be too young, I thought that maybe it was flowering. Now, the little balls have grown much larger and have also grown roots. They don't really look like keikis to me but they also don't look like buds or spikes. The plant has also sent up numerous new canes and these growths look very different from the canes. I'm attaching a picture for some opinions.

Sorry if I call anything wrong - I've done some basic reading, but it wasn't a plant I planned on (but I'm not complaining!) so I'm not as knowledgeable as I'd like to be.

Thanks in advance!