Most Dendrobiums will not like a "chunky" media. I can't be exactly sure what type of Dendrobium it is but you could use a mix suitable for Phalaenopsis.
Ursula makes a very good point and I agree totally, Dendrobiums do not like to be overpotted. Pot according to the size of the root system. Small roots = small pot. More roots can go into a slightly larger pot. Little plants the size of yours should be in a three inch pot, perhaps a four.
A basket would make an excellent choice but AFTER it has recovered. The good news is that they can recover quickly.
