Stake Launcher

The Stake Launcher is a Repeater-like weapon dropped by Mourning Wood that, as the name suggests, shoots stakes. Stakes can later be purchased from the Witch Doctor and Arms Dealer. It is easily one of the most, if not THE most, powerful ranged weapons obtainable, given its extremely high damage (base of 100 with the stakes), powerful knockback, high velocity, automatic fire, cheap ammunition, and the fact that said ammunition can pierce up to ten times. The only downside would be the fire rate, which is relatively slow in comparison to weapons like the Megashark.