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Typically a graphical style where there are one two colors. (A bit can be either on or off, so two options) Commonly black and white, but can be any combination depending on the style the creator is trying to accomplish. 

Shoot 'Em Up or shmup games are a subset of shooter games where the player continually moves forward while waves of enemies enter the screen. Both shooting and dodging are critical to advancing. See also Bullet Hell.