The West Midlands outfit are currently battling to avoid relegation from the Premier League, the club sitting three points above the bottom three.
Although Wolves have improved considerably since the arrival of Julen Lopetegui, they recently lost 1-0 at home to Bournemouth before earning a 1-1 draw at Fulham.
Next up for the Spaniard and his squad is a fixture that has become a familiar occurrence since the turn of the year with the two teams scheduled to meet for the fourth time in two months.
The clubs were paired together in the FA Cup third round, Wolves initially claiming a 2-2 draw at Anfield before losing 1-0 at home in a replay.
However, in the first top-flight fixture between the clubs, Wolves produced their best performance of the season to prevail by a 3-0 scoreline.
After a Joel Matip own goal and a Craig Dawson strike had given Wolves a two-goal lead during the early stages, Ruben Neves made sure of the three points midway through the second half.
As a result of that victory, Wolves now have an opportunity to do something that they have not achieved since the 1950-51 campaign.
Should Wolves win at Anfield on Wednesday night, it will represent the first time for 72 years that they have recorded a league double over the Merseyside giants.
Wolves are no strangers to defeating Liverpool with an FA Cup triumph occurring at Anfield in January 2017 and another materialising at Molineux in the same competition two years later.
Nevertheless, you have to go back to December 2010 for the last time that Wolves won a league game at Liverpool's home ground, Stephen Ward scoring the winner in a 1-0 success.
Liverpool have won 18 of their last 20 home games with Wolves, while they have also kept clean sheets in their three most recent outings in the Premier League.