Wet apple pencil; working barely. Will it be okay when it dries?

Long story short, my brain shut off and was going through a lot at the time, ended up chewing on my apple pencil, not to mention the wrong side of it. Moisture ended up getting in, and it's been malfunctioning. From my brief tests of it since, it hasn't been registering most movements or hasn't worked at all. It's been 1-2 hours since I'd realized I'd gotten it wet, and currently have the tip and pencil wrapped in a towel, separated. I'm happy it's still working, but worried if it will ever work properly again, because financially I can't handle paying $200 for another one.

The times I've tested it have had me noticing the tip is still full of moisture (tiny metal bit that sticks out was wet when I separated it from the tip again, as well as seeing moisture in the tip). My main question is, if I let it fully dry for a day or two, will it be back to working normally? I wouldn't be asking this question, or this optimistic about it; but to me the direct cause for it's malfunctioning (but not full eradication) is because the tip's just full of water and needs to dry. Am I being too optimistic? Will it keep lagging when dried?