I experimented with it on the newer beta versions of Minecraft Bedrock 1.16. It seems as if the floating text entity can be pushed by players and water and can be moved by pistons. Idk whether if it is the game itself or the addon that makes it happen. UwU Good addon btw :D 🧡 ...
First spawn the Floating Text Entity by using command /summon floating:text or using the spawn egg called “floating text” that can be found on Creative Inventory. Second, use a nametag to name it whatever you want then use a wooden_axe and long press/right click on it to make it dis...