When I was tickled on a regular basis there would definitely be a noticeable decline in sensitivity. But by regular basic I mean tickled pretty thoroughly, for several minutes, multiple times, and for multiple days. I can't remember exactly how long, but I'd estimate 3-4 days w/o tickling and my sensitivity would skyrocket for the next time.
However, now I'm tickled pretty few and far between so I can't tell you if every time I'm tickled if its the same degree of ultra sensitivity that I experienced before after a period of no tickling. Although it may be because this ler was really good at tickling and I can't say the same for the others.
I would say, to answer your question, probably 🙂