Alan Pardew's men have won just four of 16 Premier League matches in 2014, losing 11.
They are currently on a run of six defeats in seven matches, which has coincided with Pardew's suspension for headbutting Hull City's David Meyler in a 4-1 victory back in March.
Pardew returns from his ban for Monday's trip to Arsenal, and Coloccini understands the frustration of the fans, with sections of support voicing their discontent in recent matches.
"We are trying to win every game but our current form is not good enough," he told The Evening Chronicle.
"The fans are angry - we have to accept that. When you are not playing well, this is what happens.
"Recently we've been missing some players through injury like Loic Remy, Mathieu Debuchy and Moussa Sissoko.
"It will be good to have them back once they are fit, they are top players. But if you are playing badly then it doesn't matter who is in your team.
"We have to start playing like a team again. We want to finish as high up the table as possible and want to finish with some wins for the supporters."
