Inuyasha Game for Nintendo DS Coming Out? No — DS Discontinued 2013

No. The Nintendo DS was discontinued in 2013. No new DS games are being released, especially not for a niche anime license.

Existing Inuyasha Games (Other Platforms)

• PS2: A Feudal Fairy Tale, The Secret of the Cursed Mask, Feudal Combat
• GameCube: The Forbidden Jewel, The Forged Blades

For modern platforms, watch Bandai Namco announcements — but a new DS game is impossible.