0 You say that an object is floating around when you think it is not far away but you cannot see exactly where:
I can't find my purse, but it must be floating around here somewhere.
1 If an idea or story floats around, it is discussed or repeated by a lot of people:
rumours floating around
NIEUWE WOORDEN
European
May 10, 2021
WOORD VAN DE DAG
Shimmer
float around