We derive the system of hydrodynamic equations governing the collective motion of massless fermions in graphene. The obtained equations demonstrate the lack of Galilean- and Lorentz invariance, and contain a variety of nonlinear terms due to quasi-relativistic nature of carriers. Using those equations, we show the possibility of soliton formation in electron plasma of gated graphene. The quasi-relativistic effects set an upper limit for soliton amplitude, which marks graphene out of conventional semiconductors. The lack of Galilean and Lorentz invariance of hydrodynamic equations is revealed in spectra of plasma waves in the presence of steady flow, which no longer obey the relations of Doppler shift. The possibility of plasma wave excitation by direct current in graphene channels is also discussed.