You can shoe goo, to close the hole, but the issue is the damage to the cords which hold the tire against air pressure. A proper fabric boot can probably make this last a long time, but the tip off is whether you can feel a bump or thump when riding.
If you do, it means the cords are pulling apart, and the tire getting larger before blowing out (it's like the rope fraying as Wiley Coyote is hanging from it). One you feel bumping it's a matter of minutes, or maybe an hour before the tire lets go.
I use bootted tires on the commuter if they're otherwise in great shape, but only on the road bike as an emergency repair to get me home.
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