Thanks a lot guys!
VinceWee, Yes, It's one mesh with several tweaks. It has texture scrolling, sinusoidal vertex animation in vertex shader masked by vertex R color. Vertex G color is a lerp factor for a color gradient which colorizing mesh making far vertexes more reddish.
And for a realistic fadeout I made additional mask set by vertex B color. I hope at least someone noticed it and it wasn't useless.