Actually its the complete opposite. When you masturbate what happens is your brain starts to crave it more and thus your libido increases. Prolactin causes your urges to vanish for a moment, until they come back again. Think about it: who has higher "libido." The person who has been jacking their dick off for the last 5 years to fetish porn or the guy who has been abstaining fro masturbation completely for a month?
Same thing happens if you smoke cigarettes, at first you may not even enjoy smoking that much but the more you smoke the more you start to crave it. The best way to get rid of the craving of smoking is to actually stop doing it completely. Same happens with masturbating and porn.
Libido may work a bit differently in the sense that it can ebb and flow. Cooming makes me feel tired, so I'd rather not do it. I've been taking agnus castus aka chasteberry to reduce my libido and it works wonders