 Solution

No: there need not be even one orbit tending to zero. Partition the domain into the disjoint intervalsand, for the unique $j$ with $x\in I_j$, defineThe left endpoint is strictly below $x$, so $0<f(x)<x$. Moreover $f(x)>1/(j+1)$ and $f(x)\le x\le 1/j$, so $f(x)$ remains in the same interval. For every iterate,Every starting point belongs to some finite-index interval, so this proves the claim for all $x\in (0,1)$. The open left endpoints matter: an orbit approaches a boundary but never crosses it. This is discontinuous trapping of decreasing iterates, not a violation of the bounded monotone sequence theorem; each orbit does converge, just to a positive value where continuity fails.