An anonymous leaker on 4Chan claims a representative from The Legend of Zelda series, a Capcom character from a non-action-based game, and Waluigi will come to Super Smash Bros. Ultimate. The post arrived in late January, before the reveal of both Xenoblade Chronicles 2's Pyra/Mythra and Tekken's Kazuya, and predicts more content for the game to drop after the end of Fighter Pass Vol. 2.
Real leaks have come about before regarding Super Smash Bros. characters. One of the most famous occurred in 2014 for Super Smash Bros. Wii U and 3DS when pictures of Bowser Jr., Shulk, and Duck Hunt dog surfaced online. Also provided by an anonymous 4Chan user, this leak proved completely accurate. More recently, a 2020 4Chan post accurately predicted Min-Min, Sephiroth, and Minecraft Steve for Smash Ultimate. However, their remaining characters have not panned out as of yet. Following the release of Kazuya from Tekken, only one more DLC fighter remains for Fighter Pass Vol. 2. As the time for speculation on new characters approaches an end, this 4Chan post has resurfaced.
Discussed in detail by PapaGenos on YouTube, the anonymous post makes several assertions regarding the identities of the next DLC fighters. They claim the final character of Vol. 2 will originate from Capcom, but not one of their action-based games. PapaGenos speculates this could potentially point to Phoenix Wright from Ace Attorney, a popular candidate among many Smash Bros. fans. The leaker also claims a bonus character will release alongside or shortly following this reveal: a character from The Legend of Zelda series. This would mark the first new Zelda character since Toon Link's debut in Super Smash Bros. Brawl. Following this character, the leaker says Sakurai will tease future content and that fighters will drop at random, although they won't be part of a third fighter pass. Among these, he knows "for sure the final will be Waluigi."
Some of the leaker's claims have technically proven true so far. Their prediction of a divisive, yet popular character among Eastern and Western gamers fits with the reveal of Pyra and Mythra. While the duo comes from a popular series, some of the Smash fanbase disliked the reveal of another sword fighter. The 4Chan user also mentions the inclusion of a 3rd party character who already has representation within the Smash Ultimate, which matches with the reveal of Kazuya. Before the Tekken protagonist's reveal, fans could already purchase a DLC Mii Brawler costume for Heihachi. These accurate statements lend a bit of credence to the leaker, although not as much as stating the characters or even the series outright. Director Masahiro Sakurai has reasserted the finality of DLC characters following the last character of Vol. 2, making the additions of a Zelda rep, Waluigi, and another Capcom fighter unlikely.
Waluigi coming to Super Smash Bros. Ultimate would fulfill the dreams of fans who have wanted his inclusion since 2018, but his absence thus far doesn't bode well. Adding a Fortnite character also seems just too out-there for it to actually happen, though the same could arguably apply to characters like Steve and Banjo-Kazooie. The decision falls to Sakurai and Nintendo in the end, but it seems unlikely given Sakurai's reiteration that the next character is the final one. At least fans come up with creative solutions, like one modder who turned Geno's Mii costume into a full-fledged character.
Source: 4Chan (via PapaGenos/YouTube)