It's happening! The Nintendo Direct where Mr. Sakurai surely announces Krystal, Waluigi, and Goku as playable characters for Super Smash Bros Ultimate is happening in less than 22 hours. Ok, he probably won't announce Waluigi as playable. :P
In all honesty, I don't expect them to announce any new playable characters, but it is always fun to see what Mr. Sakurai is up to. Check out the stream above or watch it on Nintendo's Direct site. The Direct goes live on August 8th, 2018 at 7AM PST (10AM EST). You can also check out the Japanese stream, which sometimes shows slightly different information.
Maybe they'll do a profile on our new favorite Assist Trophy!