Yes, just use max and min functions with dict.get.
dict.get return the value for key if the key is present in the dictionary.
Ex-
max_value = max(dict_value, key=mydict.get)
print(max_value, dict_value[max_value])
Output-
r 8
min_value = min(dict_value, key=mydict.get)
print(min_value, dict_value[min_value])
Output-
s 1