Possibly, but I think it's more likely "vukas + in", where -in is a diminutive suffix (e.g. Dragutin, Milutin) and vukas is a variant/elaboration of vuk. Then the sound changed from "s" to "š" (Voo-KAH-shin). The meaning is practically the same though: "little wolf" or "son of wolf".
― Anonymous User 3/5/2011
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It derives from "vuk" (wolf) + "šin" (from "sin" meaning "son"). Therefore it means "son of a wolf" or if you like "Wolfsson".