Good art here! I like how easy on the eyes it is. I prefer V1, your style is quite nice.
I think what I can notice first in terms of the shading is the way you shaded the chest fur. I think it could receive a bit more volume there, for instance shaping it along with the fur (more triangular or attached to the lines) instead of the more circular look. The circular appearance makes it look more flat.
The chest fur's shading contrasts so much with the others too that it's difficult to tell where the light / lights are, and more than that, volume again
Another thing I noticed is the lining detail. The fur around the eyes is fine and detailed (which is fine! you probably aimed to do that and you nailed it), however the fur around the chest is simplified and bouncy. Maybe the chest fur could use some of those refined lines for uniformity in the lineart, or the eye fur could be simplified. Whichever one calls to you more.
Other than that, I have to say you did the wolf's head anatomy super well. I love the detail on it, it shows you know what you're doing there.
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