Manchester City climbed to the top of the table with a 1-0 win at Burnley almost a week ago before Arsenal also grabbed a narrow win against Newcastle over the weekend.
City currently sit three points behind the Gunners with a game in hand as they prepare to face Everton this weekend on the hunt for another 3 points.
Now, heading into the final month of the campaign, Arsenal must remain consistent if they are to go all the way under Arteta who reports state could be sacked if he does not claim silverware this season.
Speaking to talkSPORT Bet Casino, McCoist revealed that fans would want Arteta to go once more, even if he fails this season.
“I can't lie to you, I'd be gutted for him. I'd be genuinely gutted for Mikel Arteta if he left because I really like, and I enjoy Arsenal. People say they should let the hand brake off, and I get that, I understand that totally.
“But if they don't go over the line this time, would it be the right thing to make a change? I don't know if it would. I really don't know if it would.
“I think they probably would give him another opportunity to go again. And it might not be the popular opinion with all the Arsenal fans, but I actually think the majority of them would want him to go again.
“I tell you what, if Arsenal don't win the league, it's a long summer. And if they don't get Champions League, it is a long, long summer.”
City could head into the Everton game six points behind Arsenal if they win two days earlier at home to Fulham, putting the pressure on Arteta even further as such a gap could seriously knock City’s overbearing confidence.