This paper proposes a novel petal-shaped Magneto-Electric (ME) dipole antenna configuration loaded with slot, optimized for 5G sub-6 GHz and Wi-Fi applications. The antenna is designed in a compact size of 1.18λ0 × 1.18λ0 × 0.27λ0 (λ0, wavelength at 3.5 GHz), in conjunction with a Γ-shaped feeding structure and box-shaped reflector, providing a notable range of wide bandwidth and high gain. Furthermore, Γ-shaped feeding strip incorporation also helps to improve the impedance matching of the proposed design. The antenna demonstrates a broad frequency coverage from 2.02 to 5.26 GHz, resulting in an impedance bandwidth of 88.7%. The wide range of frequencies this antenna covers enables it to effectively accommodate the diverse spectrum demands of 5G networks (mobile and Wi-Fi). The antenna has a significant broadside gain of 10.4 dB with excellent stability throughout the frequency band. The optimization using Ansys High-Frequency Structure Simulator (HFSS) shows better antenna performance in terms of return loss, gain, and radiation pattern. The innovative design of this compact antenna represents a notable advancement in the development of 5G antenna technology, laying the foundation for improved wireless communication capabilities. As it is a full metal antenna, it has the advantage of providing high gain without any dielectric loss.