After starting the year 7-3, the Wolves have now dropped five of their last six, coming up short at home Wednesday 117-110.
The Nuggets saw eight players reach double-figures, while Minnesota once again got no bench play in a loss, their reserves getting outscored 47-10.
Kevin Martin led Minnesota with 29, while former North Carolina point guard Ty Lawson paced Denver with 23.
Luc Mbah a Moute, acquired for Derrick Williams earlier in the week, passed his physical with Minnesota this morning but did not play.
Minnesota has now lost five of their last six and drop below .500 for the first time all year, while Denver improves to 8-6 on the year.
The Wolves return to action after the holiday with Saturday action against Dallas at American Airlines Arena.