Winger Michael Kightly admits Wolves are unlikely to stay in the Premier League but has urged his team-mates to keep fighting until the end of the season.
While many of the sides at the foot of the table have started to pick up some decent results, Wolves' form has slumped alarmingly.
Since a 2-1 win at QPR at the start of February the Molineux outfit have lost six of their last seven games, with five of those defeats coming under new manager Terry Connor, who replaced the sacked Mick McCarthy on 24th February.
Following last weekend's 3-2 home loss to fellow strugglers Bolton the Black Country side now sit six points adrift at the bottom of the table and face a real fight to stay in the division.
Kightly, who scored the opening goal in that 3-2 defeat, accepts the club's position is perilous, especially with a tough-looking run-in.
However, the former Grays Athletic winger insists that if they are to go down, then the least the players can do is go down fighting.
"We've shot ourselves in the foot again and we've been doing that all season," said the 26-year-old.
"We can't keep a clean sheet and have conceded an average of two goals a game. Mathematically we're not down, but we're not stupid.
"The least we can do is show some heart and determination for the rest of the season.
"We owe it to the fans to fight right to the death."
Two of the Wanderers players appeared to show the wrong kind of fighting spirit on Saturday when goalkeeper Wayne Hennessey and captain Roger Johnson nearly came to blows on the field following a defensive lapse.
The pair eventually had to be broken up by their own team-mates but defender Stephen Ward was quick to play down the incident after the game.
"It was just two lads wanting to win and just pure passion," said the Ireland international.
"Those things blow over as quickly as they happen. It's not a big issue. Maybe it doesn't look good, but it shows the fans how much it means to them.
"It's not a case of them not liking each other; it's about both men wanting to make sure that the ball didn't end up in the net."