Wanderers doubled their lead three minutes after the break and again it was Griffiths, who converted from close range after debutant James Henry had cut the ball back.
Kevin Doyle fired in a third from close range seven minutes later after the impressive Henry had picked him out in the area.
Visiting goalkeeper Carl Ikeme saved Freddie Sears' penalty with four minutes to go.
Dunne said: "Any defeat at home is a difficult one but up until the penalty, I thought that we were well in the game.
"We missed key chances but Wolves always carried a threat and they went down the other end and scored a penalty.
"That changed the context of the first half and we chased it a bit against a quality time.
"We spoke at half-time about a response and how we were going to play. But unfortunately the game was dead 10 minutes into the second half and we need a better response than that as a group and we're better than that.
"However, this group has been playing together for the last three or four weeks and they've done great.
"The young players, when I changed it, were excellent."
- Sports & Recreation
- Leigh Griffiths
- James Henry