No, the sky cannot actually fall. The concept of the "sky falling" is a metaphor or figure of speech used to describe a situation where something unexpected or disastrous happens. It originates from various folk tales and fables, such as the story of Chicken Little, in which a chicken believes that the sky is falling after an acorn falls on its head.
In reality, the sky, also known as the atmosphere, refers to the layer of gases surrounding the Earth. It extends several miles above the surface of the planet and is held in place by the force of gravity. The sky doesn't have a physical structure that can collapse or fall down.
So, while the phrase "the sky is falling" may be used to describe a state of panic or impending doom, it does not have a literal meaning.