Minishark

Description
The Minishark is a minigun that is "half gun, half shark, completely awesome" according to its description. It costs 50 gold coins and is sold by the arms dealer. The Minishark is known to either use Musket Balls or Meteor Shot as ammo. It does 5 damage at an "insanely fast speed". It is the fastest weapon in Terraria.

The Minishark is also very useful for taking out the Eye of Cthulhu. If you have the extra gold for the Minishark it is highly recommended. The Minishark can even be helpful for taking out Skeletron. The minishark can be used to find floating islands by shooting Meteor Shots straight up, and watching for the bullets to bounce back down.

It can be combined with 20 Meteorite Bars and 5 Fallen stars to make the Star Cannon.