The problems at Molineux go deeper than the head coach, who did a fine job when he replaced Julen Lopetegui just days before the start of last season, and on Saturday the home fans chanted against Shi and Fosun to underline that.
The owners have curbed spending on players at Molineux – O’Neil highlighted after Monday’s 2-1 defeat at West Ham they have sold £200m of talent in the past 18 months.
Yet Wolves are second bottom and conceded another goal from a set-piece – their 20th of the season – against a relegation rival when only a win would have eased the pressure on O’Neil.
There was sympathy and understanding during a difficult start when Wolves deserved more points than they took but picking up just one point from home games against Crystal Palace, Bournemouth and Ipswich has seen any patience from the terraces evaporate.
Ipswich’s opener was fortuitous.
Doherty had cleared Omari Hutchinson’s goalbound effort away, only to score a hapless own goal seconds later when Toti Gomes’ clearance from Conor Chaplin’s shot hit him and rolled in.
The Molineux mood darkened. And the chants against Fosun and Shi continued into the second half.
Jean-Ricner Bellegarde and Jorgen Strand Larsen wasted the hosts’ best chances before, just as the atmosphere was turning toxic, Cunha levelled with 18 minutes left when he drilled in from Goncalo Guedes’ pass.
Strand Larsen went close seven minutes from time and Cunha was also denied by Ipswich keeper Arijanet Muric.
But Taylor nodded in Jack Clarke’s corner in stoppage time to snatch victory.