Can two pointer variables point to the same memory Address?

Yes, two pointer variables can point to the same object:

Pointers are variables whose value is the address of a C object, or the null pointer.

• multiple pointers can point to the same object:

  char *p, *q;
  p = q = "a";
  

• a pointer can even point to itself:

  void *p;
  p = &p;
  

• here is another example with a doubly linked circular list with a single element: the next and prev links both point to the same location, the structure itself:

  struct dlist {
      struct dlist *prev, *next;
      int value;
  } list = { &list, &list, 0 };
  

Yes it does! Multiple pointers can point to the same thing.