The drawing and the character design are very good, in my opinion. If you want this to be more "classic pixel art", maybe you could remake it in a smaller canvas, let's say, 100 x 100 px. With an smaller size, you have to make decisions, dispense some details and synthesize the idea. You could use Namco x Capcom sprites as a style reference, I think this character fits almost perfect.
Whynot make your own gallery?
Nice piece with great colours! Only crit is that the right foot looks a bit floppy ;P
Both feat are kinda floppy and the hand looks funny, other than that, it looks fine, anothe small probelm would have to be the outline, the white outline is just..wrong, it make the edges look too sharp.