Boss Sam Ricketts warned Wolves their FA Cup tie is not over yet despite Shrewsbury's late heartbreak.
Matt Doherty rescued a fourth-round replay for Wolves after they came from 2-0 down to draw 2-2 on Saturday.
Defender Doherty scored in injury time after Raul Jimenez's 75th-minute strike gave the Premier League side a lifeline.
Greg Docherty and Luke Waterfall put Sky Bet League One Shrewsbury 2-0 up but, despite being forced to settle for a replay, Ricketts remained bullish.
"Everyone wrote us off at Stoke but you need to see the full 90 minutes before doing that," the former Wolves captain said, with the Shrews having beaten Stoke 3-2 in a third-round replay.
"I was expecting a strong side because they want to do well in the cup and rightly so. We want to play against good players.
"This is what the FA Cup is about and with a bit of belief we can achieve something.
"We have some big games in the league which we need to match that level of performance.
"If we can consistently hit that level it will be huge. We will turn the draws we have been having into wins."
Wolves are 54 places above Shrewsbury but were made to sweat in a poor performance.
Adama Traore wasted their best first-half opening when he fired over before redeeming himself with the assist for Doherty.
It was the second last-minute goal in succession after Diogo Jota's winner in the 4-3 victory over Leicester but boss Nuno Espirito Santo wants to avoid them.
"It's something that we don't want but you have to fight to the end and now we have the next game in a very tight schedule," he said.
"This is the cup. You cannot switch off, you always have to be committed to it. I think the first half was good, we had chances to do it, but we conceded at the beginning of the second half and then the game went on to become difficult.
"In the end I think the effort of the boys in the last minutes was amazing. It allowed us to go to a second game and stay in the cup.
"I think it's part of our character, to always believe, and a good finish can give you something. That was a reflection of the boys' efforts today.
"It's always important to fight until the referee finishes the game."
