Former Liverpool winger Pennant joined Wolves on a three-month loan deal from Stoke City earlier this month.
Having witnessed Pennant's debut during his side's 2-1 defeat to Huddersfield Town on Saturday afternoon, Ikeme believes that he saw enough from the attacker to believe that he will be a success.
"I thought he looked good. He hadn't played for some time so it probably took him a while to get into the game, but when we got him on the ball, we started playing better and he showed his quality," the keeper told reporters.
"He can give us a lot of pace and energy and he supplies good crosses too. He's got a good free kick on him and it's a fight between him and Bakary Sako for who takes them.
"But people saw his corners on Saturday. They were dangerous so he's got a lot of quality."
Wolves are fifth in the Championship table.