With static lines, as in your example, the line does not stand out. The space for it is made in the executable file itself, and the above assignment simply sets "ptr" to the address of this space.
I'm not sure if this depends on the implementation or not, but the string is usually in protected memory, so you cannot change it ... point only to it.
On UNIX, you can see static lines in the executable using the string command in the executable.
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