The Gunners boast an eight-point lead at the top of the Premier League after drawing 0-0 to Newcastle United on Tuesday.
Defending champions Manchester City, who dropped points at home to Everton at the weekend, will close the gap to five points if they beat Chelsea in their game in hand on Thursday.
Arsenal have failed to win just three of their 17 league games this season and Wright insists it is a ‘special time’ for the fans at the Emirates.
The former England striker is understandably wary of Man City but says Arsenal can beat Pep Guardiola’s side to the title if influential trio Bukayo Saka, Martin Odegaard and Thomas Partey stay fit.
‘I keep saying it’s just about enjoying the moment,’ he said on The Kelly and Wrighty show before Arsenal’s draw with Newcastle. ‘The players are clearly dialled in to what they’re doing but it’s going to be tough.
‘We know how good Manchester City are and they’re probably the only team who could take a couple of injuries to key players and still win the league.
‘Arsenal fans know this is a very special time, it feels good and they’re answering every question right now. But if there are a couple of injuries it could be a different story.
‘There’s still a chance Arsenal will try and sign a couple of players in January. But when you look at the team this season, Saka’s done it, Partey’s done it, Odegaard has done it.
‘Those are the ones, if Partey, Odegaard and Saka stay fit – which is going to be very tough – then I think Arsenal have got a very good chance of winning the league.’
Arsenal turn to FA Cup action on Monday, facing Oxford United in the third round, before resuming their Premier League campaign on January 15 against north London rivals Tottenham.
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