S.D.M.G.

It empties a magazine faster than anything else you will hold, and the cone it fires into is tight enough that at normal fighting distance the spread barely reads. The rounds glow the whole way out, so a dark dungeon or an unlit pillar arena stops being a problem the moment you open fire. It also crits far more often than a gun normally does, which is why crit gear pays off more here than on most weapons.

The ammo saving is the point of the weapon as much as the fire rate. Expensive rounds you would never sustain elsewhere become affordable, so this is where homing Chlorophyte ammo finally makes sense. Crystal Bullets work because the accuracy plants every shot on a large target and the fragments land as well. Luminite rounds turn it into a crowd clearer for events and pillars.

Put next to the Vortex Beater, this is the precise one. It groups shots where you point instead of scattering them, which wins on single targets, and it loses on packed waves unless you load something that pierces. Carry both if you can and swap by fight.

It is a nod to Edge of Space, a game that returns the favor with a Terraria reference of its own, and the tooltip about where it came from is the giveaway. It also continues the running joke of shark-themed automatic weapons that began with the Minishark.