When is it better to fire from the hip as opposed to aiming?
Honestly I've never fired from the hip except for one time someone was way too close to me and I knew my sniper rifle would hit them anyways.
Are there guns specifically better for hip fire?
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I almost always hipfire fusion rifles, and shotguns without bonuses for aiming. Hipfiring a rifle with focus fire can help you get higher DPS in close quarters.