It's possible. Last year the picture below was seen (could be a fake though).
Maybe the original plan of Sony was to announce Crash Bandicoot at E3 2015 and release it in holidays 2015 but after all the other big announcements at E3 2015 (FF7 Remake, Shenmue 3...) they decided to delay the game and announce it one year later at this E3! They teased the game so much the last months to make us people hyped for the announcement!

Knack & Crash has a nice ring to it.

Sony is teasing my left belly...!

...Are we gonna skip over the fact that Lex Lang voiced Doctor Doom more recently than he voiced Cortex? Or that he's only voiced Cortex in the later Crash games that Crash fans hate?

It's been two and a half years. If it isn't magically revealed at E3, it's not happening - this is almost as bad as Half-Life now. I won't even go into the fact that you almost certainly won't like a new Crash game no matter what, or that the franchise was built in such a way that it was doomed as soon as hardware evolved past 32 bits, because that'd just be rude, but don't keep setting yourselves up for disappointment and a hopeful "maybe next event" whimper.

No way is it anywhere near as bad as HL... thats been a big joke for many many years.

It was a cute game, but ya know, I never thought much of it too. Then, as I got older and started hearing girls talking about gaming, they would always reference Crash. I was like, wtf, it's like every girl liked crash bandicoot. And then, I saw why it was popular.

Probably done by Activision, and will most likely be multi plat.

NerdLeaks @Nerd_Leaks  21h21 hours ago
What we know about Crash Bandicoot is that Activision has been working on HDremake since at least 2015. We don't know if matters changed now

Half-Life is a complete joke though, that's sort of my point.  People have been actively grasping at straws for over three years now about Crash as if it's always just around the corner.  It's become conspiracy, it's all a work according to some people.  Every single hint has been made to throw us off, and then they were totally gonna reveal it last year but they decided not to because reasons.  This is what Half-Life was at its worst - the only difference is about another year or so of Crash conspiracy until it becomes a joke to the rest of the internet, and suddenly we have Crash confirmed as a meme.