The discrepancy between Planck data and direct measurements of the current expansion rate H0 and the matter fluctuation amplitude S8 has become one of the most intriguing puzzles in cosmology nowadays. The H0 tension has reached 5σ in the context of standard cosmology i.e ΛCDM. Therefore, explanations to this issue are mandatory to unveil its secrets. Despite its success, ΛCDM is unable to give a satisfying explanation to the tension problem. Unless some systematic errors are hidden in the observable measurements, physics beyond the standard model of cosmology must be advocated. In this perspective, we study a phantom dynamical dark energy model as an alternative to ΛCDM in order to explain the aforementioned issues. This phantom model is characterized by one extra parameter, Ωpdde, compared to ΛCDM. We obtain a strong positive correlation between H0 and Ωpdde, for all data combinations. Using Planck18 measurements together with BAO and Pantheon, we find that the H0 and the S8 tensions are 3.4σ and 2.75σ, respectively. By introducing a prior on the absolute magnitude, MB, of the SN Ia, the H0 tension decreases to 2.49σ with H0=69.7−0.86+0.83 km s−1 Mpc−1 and the S8 tension reaches the value 2.51σ with S8=0.82650.012+0.011.