Step 1: Determine the fixed point.
Let the limit be \(L\). Then, taking limit on both sides,
\[
L = \frac{1}{3} L^{3/4}.
\]
If \(L>0\), we get \(L^{1/4} = \frac{1}{3} \Rightarrow L = \frac{1}{81}\).
However, since \(a_1 = 5\), we need to check the direction of monotonicity.
Step 2: Check monotonicity.
Compute a few terms:
\[
a_2 = \frac{1}{3}(5)^{3/4} \approx \frac{1}{3} (3.34) = 1.11,
\]
\[
a_3 = \frac{1}{3}(1.11)^{3/4} \approx 0.37, \quad a_4 \approx 0.18.
\]
Hence, the sequence is decreasing.
Step 3: Find the limit behavior.
Since \(a_n>0\) and \(a_{n+1}<a_n\), it is monotone decreasing and bounded below by 0. Therefore,
\[
\lim_{n \to \infty} a_n = 0.
\]
Final Answer:
\[
\boxed{\{a_n\} \text{ is decreasing, and } \lim_{n \to \infty} a_n = 0.}
\]