IMO ping speed and size should be dictated by champion size. Larger champions have larger pings but ping less often, small champions have smaller pings but ping pretty often (think about it like a small champion wouldn't weigh much, small pings, but they would also be taking a lot of steps, faster ping rate). Champions that float/fly would leave a wake, like a boat but would be delayed behind them.
This makes it possible to tell what champion you are watching IF you can identify their "signature tremor".
This would have the same range but I believe it would give slightly more ping updates, also I think it makes more sense thematically.