The midfielder is on loan at Besiktas but has urged his Gunners team-mates to believe in themselves.
Elneny has been speaking to the squad and said they understand how bad things have become with the Gunners ninth in the Premier League.
"Of course I'm talking with my team-mates and they know it's a hard situation. Arsenal have never been like this before and everyone feels it," said the Egypt international, in England ahead of Besiktas' Europa League clash at Wolves on Thursday.
"Everyone is pushing hard to get out of the situation because they know how big Arsenal are.
"They need to win some games to feel good inside. After that everything will come. You just need some wins."
Ljungberg won his first game in interim charge on Monday with a 3-1 victory at West Ham, ending a winless streak of nine games.
It lifted the beleaguered Gunners to seven points off the top four.
Ljungberg has said he is working game by game but, if Arsenal cannot find a long-term manager, Elneny believes the former Sweden international can take charge for the rest of the season.
"Yeah, 100 per cent," said the 27-year-old, who joined from Basel in 2016.
"I worked with Freddie before I left and he's a really good coach. Why can't he continue if Arsenal don't find the new coach."
Elneny has played 13 times for Besiktas this term with Abdullah Avci's side second in the Super Lig, three points behind leaders Sivasspor.
Besiktas reportedly have a £15million option to buy the midfielder and he is only thinking about life in Turkey.
"I'm 100 per cent focused on Besiktas now, I want to win the league and the cup," he added.
"It feels like it's my home now, I'm happy here, we play good football with a really good coach.
"The team will become stronger every game and I have a really good chance to be successful with this team."