The 23-year-old has suffered a dip in form in recent weeks, and hasn't scored since the end of March, prompting a raft of criticism towards the Montenegrin forward.
"Stevan feels the Fiorentina fans treat him without love," Toni told a press conference. "Everybody says that the player's struggles will end when he starts scoring again.
"The way I see it in this difficult period is that Jovetic is only supported when he is making a difference on the field. At the moment, there is no enthusiasm towards him - he does not feel loved."
However, Jovetic's barren run has done little to stem interest in his signature, with Gunners boss Arsene Wenger believed to be keen to bring the player to the Emirates Stadium when the transfer window reopens this summer.
Arsenal will face competition for the Serie 'A' star's services, though, with Manchester City also monitoring Jovetic's situation in Florence.
As question marks continue to surround the future of Roberto Mancini - who is a long-term admirer of the Fiorentina star - Etihad Stadium officials might still look to negotiate a move for Jovetic, with or without the Italian in charge next season.
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