Font Material Individual Letter/Character Bounce With World Position

Hello,

I would like to know if there’s a way to make a font material with a bounce effect on each individual character. So a wave-like effect that goes across each letter. Attached below is my current setup, which causes the entire chunk of text to bounce as one. The color gradient is irrelevant.

I’m unsure as to whether the Absolute World Position node outputs pixel coordinate, or the coordinate of the text block itself. Thank you for your time.