Is it possible for image to have multiple tags?

You can create multiple tags:

docker tag <id> <user>/<image>:0.2
docker tag <id> <user>/<image>:latest

and push these.

You can build an image with several tags and then push the image with the --all-tags option.

Example:

docker build -t reg/user/image:foo -t reg/user/image:latest .

docker push reg/user/image --all-tags

Older Docker clients that do not support --all-tags will push all tags by default (simply omit the option), newer clients will only push latest by default. As an alternative, you may want to push each tag separately.