Wanderers were second from bottom after a 2-0 defeat at Manchester City at the beginning of March, but go into this weekend's home game against Fulham in 16th, a point clear of the drop zone with eight games left - one more than the four teams below them.
Notably, the last two wins came after Fabrice Muamba's cardiac arrest and Coyle has paid tribute to the way the entire club has handled a difficult period, saying: "As much as they call it manager of the month, it is very much a collective effort at our football club."
Bolton's surge is down to a sequence of three straight league victories - all against fellow strugglers in QPR, Blackburn and Wolves - which represents Bolton's best run of form in the top flight since 2006.
Coyle added: "The players, staff and fans have been incredible, so on behalf of everybody I'd say we are delighted to pick it up.
"We would certainly love to have April's as well, because if we get that we'll know we have secured ourselves in the Premier League, so that is what we must strive to do in the coming month."