Can find more info here by a seach of "speedometer" or "speedo" including the joys of replacing the cable...
The three basic solutions I have read about:
Remove the cable and drop oil down the inside of the cable. I never tried this.
Replace the cable. Step by step instructions are in one of the messages in this forum. A replacement cable is about $25. An original cable from MB is about $60. I compared both and went for the MB cable.
Last option: remove the speedo and have it rebuilt (about $100) and also replace the cable.
My speedo was not only bouncing but was also screaming. I had the speedo rebuilt and relaced the cable. It cured the problem.
Once you are in the dash area for the speedo, might want to check out the tach cable, clean instrument glasses, etc. Info about this is on this forum. Use the search with various words.
Richard M