Carbon particle-filled elastomers are a widely researched option to be used as piezoresistive strain sensors for soft robotics or human motion monitoring. Therefore, various polymers can be compounded with carbon black, carbon nano tubes (CNT) or graphene. However, in many studies the electrical resistance’s strain response of the carbon-particle filled elastomers is non-monotonic in dynamic evaluation scenarios. The non-monotonic material behavior is also called shoulder phenomenon or secondary peak. Until today, the underlying cause is not sufficiently well understood. In this study, several influencing test parameters on the shoulder phenomena are explored like strain level, strain rate and strain history. Moreover, material parameters like CNT content and anisotropy are varied in melt-spun CNT filled thermoplastic polyurethane filament yarns and their non-monotonic sensor response is evaluated. Additionally, a theoretical concept for the underlying mechanism and thereupon-based model is developed. An equivalent circuit model is used, which incorporates the visco-elastic properties and the characteristic of the percolation network formed by the conductive filler material. The simulation results are in good agreement when compared to the experimental results.