As well as your normal wire, you can also collect various Power Ups that may benefit you.
Dynamite
The dynamite can be useful. Watch out, it splits all the balloons into the smallest size.
Double Wire
The double wire is a great weapon, you can shoot two wires at a time.
Freeze Time
Freezes time for a few seconds, during which balloons won't harm you. Take advantage of this.
Power Wire
This wire will go into the blocks. It's good to use when you are in a narrow space. It will stay on screen for a few seconds or until an enemy hits it.
Vulcan Missile
You can shoot continually with the vulcan missile. Get under the balloons and shoot them all.
Invincibility
Gives you a shield which can stand one balloon hit on your head.
Slow Time
With this, time still ticks on but the balloons slow down for a period of time.