This study introduces a planar folded super low profile 5G mmWave monopole antenna for small IoT devices with superior efficiency and gain. Low-loss Rogers RT-5880 substrate material has been utilized to achieve higher efficiency, gain, and diversity performance in a relatively compact size. The unit element planar monopole antenna has been designed within 6.15×5.13×0.8mm3 with a partial ground. Four unit element antenna was orthogonally arranged on alternating sides of the substrate plane with narrow inter-component spacing in the multiple input multiple output (MIMO) system. The integration of the double negative (DNG) metamaterial array on the antenna led to a cumulative improvement in the overall performance of the antenna, which includes gain, efficiency, and isolation. The minimum isolation of the antenna increased by 11 dB with substrate-loaded metamaterial. The proposed MIMO antenna model with substrate-loaded metamaterial demonstrates 8 GHz instantaneous bandwidth (33.1 GHz - 41.1 GHz), 0.001 envelope correlation coefficient (ECC), diversity gain (DG) greater than 9.99 dB, channel capacity loss (CCL) less than 0.2bits/s/Hz, and a total active reflection coefficient (TARC) of 25 dB, which suggests that the diversity characteristics of the MIMO antenna system is impressive. Moreover, a densely packed 12-element antenna model has been introduced in this study with 360∘ pattern diversity, capable of receiving signals from any direction. Three 4-element MIMO systems have been arranged in an architecture to develop the 12-element MIMO system, and the size of the 12-element MIMO architecture is 15×15×15mm3. Despite having this compact size and dense packing, the 12-element MIMO antenna model shows similar diversity performance as the 4-element antenna model. Analog equivalent circuit models or resistor-inductor-capacitor (RLC) equivalent systems for the antenna models were created. A concept of a 128-element massive MIMO antenna has been presented to support the end devices, creating an application scenario of an IoT-interconnected smart city.