© 2023 American Physical Society. The quasienergy spectrum recently measured in experiments with a squeeze-driven superconducting Kerr oscillator showed good agreement with the energy spectrum of its corresponding static effective Hamiltonian. The experiments also demonstrated that the dynamics of low-energy states can be explained with the same emergent static effective model. The spectrum exhibits real (avoided) level crossings for specific values of the Hamiltonian parameters, which can then be chosen to suppress (enhance) quantum tunneling. Here we analyze the spectrum and the dynamics of the effective model up to high energies, which should soon be within experimental reach. We show that the parameter values for the crossings, which can be obtained from a semiclassical approach, can also be identified directly from the dynamics. Our analysis of quantum tunneling is done with the effective flux of the Husimi volume of the evolved states between different regions of the phase space. Both initial coherent states and quench dynamics are considered. We argue that the level crossings and their consequences on the dynamics are typical to any quantum system with one degree of freedom, whose density of states presents a local logarithmic divergence and a local step discontinuity.