Here’s an open source component submitted by Nikita of Yalantis that provides a custom label allowing you to easily apply animations to the text, and even individual layers within the label.

Yalantis includes a nice example project showing how to create a sophisticated animated label using Ophiucus.

Here’s an animation from the readme showing Ophiucus in action:

You can find Ophiucus on Github here.

You can also read more about Ophiucus on the Yalantis blog.