"Does negative frequency only exist theoretically"
Object vs measure
Frequency is not an object, and therefore it doesn't exist physically. So the question might be: Does some phenomena occur with a negative frequency?
Negative Hz? No
But this is still unclear. The unit of frequency is $Hz$, which BIPM defines as $1/s$. Physical time is, as far as I know, always increasing.
Actually my understanding is time doesn't exist, it's a perception. What we call time is the perception we have when the Universe entropy increases, and as we know since Einstein, time is very relative, and linked to our velocity. E.g. on Earth it takes one minute for the clock second hand to make one round. But it would be more accurately said: As Universe entropy increases, energy transfers occur, leading to physical forces and motions. This has consequences, these transfers occurring in our body give us the feeling of waiting while looking intensely at the clock in the hope we can stop it like Ury Geller trying desperately to bend a spoon in front of James Randi, and the transfers occurring in the clock rotates the hand. If the clock was accelerated to 99% of $c$, time feeling and hand motion would be very different, but not entropy change.
Of course we can say there is plus one year from 2022 to 2023 and minus one year from 2023 to 2022. That's a matter of convention in the measure. But there is no negative physical time and no negative frequency. So maybe a negative angular frequency $\omega = 2 \pi f$ means something?
Negative rad/s? Yes
Can $\omega$, an angle, be negative? Of course, it's again a matter of how we measure angles. E.g is Earth angular frequency positive or negative? If it is negative for someone, and positive for someone else, does that change anything to Earth motion?
Can we have a wave with a negative angular frequency ? If this is about $\omega$, then yes, this is again a matter of convention. I assume you're looking for negative $Hz$, and for the reason already mentioned, this makes no sense. If there was negative $Hz$, we would also need to define negative distances for the wavelength, $c/f$.
Note some people tend to say there are negative frequency waves in physics, in the solitary wave, aka soliton. However this is unclear about what is negative in the soliton, the Wikipedia article doesn't mention negative frequency.
Conclusion: The map is not the territory
Alfred Korzybski said: The map is not the territory, and it takes full sense here. We can arbitrarily measure negative frequency, but we don't change the actual measured object. In such cases, the frequency measure doesn't give us an information about the object which frequency is measured, but about the relationship between the object and the standard of measure.
Negative frequency seems to imply negative time, in the sense time must be reversible. This is not true. That remind me of Fredric Brown short story: Experiment.