It has been done with a TAS, so it's at least theoretically possible. There aren't any technical barriers that would prevent a human from being able to do it; the drop speed no longer goes up after level 29, so no new techniques would be needed to hit buttons faster. Avoiding the kill screen conditions would be incredibly difficult, as would playing through glitched level colors.

All of which is incredibly difficult and will require even a top player to do hundreds of plays to get it to hit once. That's par for the course in these sorts of competitive games, and it should be possible. Question is how many years it will take.