Is there a way to repair this rug?

There's a shag rug that has been in my basement for 15 years. Now, my basement is unfinished and is a bit damp in the summer but only on the walls. The rug itself is in pretty good shape but it does smell a tad bit damp and gross haha, and the bottom is a little shredded. Is there a way to clean it up so I can use it in my bedroom upstairs?